Shopify Inc. $SHOP Shares Purchased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd raised its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 159.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 525,949 shares of the software maker’s stock after buying an additional 322,933 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Shopify were worth $78,143,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SHOP. Norges Bank acquired a new stake in shares of Shopify during the second quarter valued at $1,794,952,000. Jennison Associates LLC lifted its holdings in Shopify by 64.3% in the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after purchasing an additional 7,403,821 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Shopify by 5,193.6% in the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock valued at $238,419,000 after purchasing an additional 2,027,839 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after purchasing an additional 1,781,530 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its holdings in shares of Shopify by 246,359.0% during the second quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker’s stock worth $202,146,000 after buying an additional 1,759,003 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $138.92 on Thursday. The business has a 50-day moving average of $158.72 and a two-hundred day moving average of $151.01. The firm has a market capitalization of $180.85 billion, a PE ratio of 102.90, a P/E/G ratio of 4.06 and a beta of 2.83. Shopify Inc. has a 12 month low of $69.84 and a 12 month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. As a group, research analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Shopify from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. CIBC reiterated an “outperform” rating on shares of Shopify in a report on Wednesday, November 5th. National Bankshares increased their price target on Shopify from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. DZ Bank raised Shopify from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Canaccord Genuity Group upped their target price on Shopify from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Twenty-four analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company’s stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.61.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.